Net profit 38 million euros for the first 9 months of 2024, tbi bank announced today, 34% higher year-on-year.

In addition, tbi bank maintained its strong liquidity and capital position. Strong performances are also observed in all areas of its activity.

During the first nine months of 2024, tbi recruited new commercial partners, including new lines of business and is now present at 30,000 partner check-out points in its main markets of activity – Greece, Romania and Bulgaria. With this impressive range of activities, the bank helped more customers finance their desired purchases and helped maintain its leading position in all three countries.

Until the end of September 2024, tbi bank managed 1.6 million applications loans in GreeceRomania and Bulgaria, 40% more compared to the same period of the previous year. During this period, the bank disbursed almost 720,000 loans (39% year-on-year increase) amounting to 840 million. euros – 25% more compared to the same period in 2023. In addition, 70% of loan applications were made through self-service digital channels, thus contributing significantly to the very positive financial results.

tbi records 26% increase in total assets by the end of September 2024, reaching 1.70 billion euro. The loan portfolio increased to 1.23 billion. euros at the end of September 2024 (26% increase compared to Q3 2023).

Based on this positive business performance, tbi bank’s operating income increased by 25% to 186 million euromainly due to the 34% increase in net interest income. This resulted in operating profit for the first nine months of 2024 reaching 130 million. euro.

The increase in the bank’s general expenses by 22%, to 87 million. euros, is mainly due to the ongoing investments in technology and AI solutions to support the development of new products in all markets as well as investments in new areas of activity.

In addition, tbi bank’s deposit portfolio reached 1.26 billion. euros at the end of September 2024 – outperforming the market and recording an increase of 26% compared to the same period of the previous year. The main driver was the retail term deposit portfolio, where growth was even higher at 32% year-on-year.

As announced, tbi’s ongoing efforts to improve digital products and the everyday banking experience have resulted in a major milestone across all markets. Over 250,000 customers used tbi bank’s applications in Greece, Romania and Bulgaria every month in the last quarter, resulting in 20 million connections in Q3 2024 – 2.3 times higher compared to the corresponding period of 2023.

At end of the third quarter of 2024the bank had a strong and secure position in terms of both liquidity and capital – the liquidity coverage ratio (LCR) was at 602% (well above the regulatory minimum of 100% and the banking sector average of 242% ). Following the shareholders’ decision to capitalize the 1H 2024 earnings, the capital adequacy ratio (CAR) reached 23.7%. tbi bank is continuously improving its commitment to prudent cost management and its efficiency (46.5% cost-to-income ratio), which combined with a loan portfolio yield of 21.4%, allowing a return on assets (ROA) and return on equity to reach 3.2% and 20.7%, respectively.

“Our ever-growing customer base in Greece, Romania and Bulgaria is a source of great satisfaction and a key contributor to our strong financial results,” said Petr Baron, CEO of tbi fs. “I want to thank our customers for their trust, as well as our passionate and dedicated team, which remains the foundation of our success and continuous innovation. With the festive season just around the corner, we’re working hard to ensure our customers have the support they need for their everyday needs.”